New York, According to a new market research report published by Global Insight Services “Document Management System Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A document management system (DMS) is a system (based on computer programs in the case of electronic document management systems) used to track and store electronic documents and/or images of paper documents. It is usually also possible to organize and retrieve documents according to metadata (information about information) associated with each document.
A DMS should provide storage, versioning, indexing, search, retrieval, and access control to documents. Some systems also provide annotation, bookmarks, notes, and version control for documents.
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Key Trends
There are a few key trends in Document Management System technology:
1. Cloud-based document management systems are becoming more popular. This is because they offer a number of advantages over on-premises systems, including lower costs, greater flexibility, and easier scalability.
2. Mobile document management is also becoming more popular, as it allows users to access their documents from anywhere using their mobile devices.
3. Social media integration is another trend, as it allows users to share documents and collaborate on them in real-time.
4. Finally, artificial intelligence is starting to be used more in document management systems, in order to help with things like document classification and search.
Key Drivers
The key drivers of the Document Management System market are the increasing need for organizations to manage their documents effectively and efficiently, the need to comply with regulatory requirements, and the need to improve business processes.
The increasing need for organizations to manage their documents effectively and efficiently is driven by the growing volume of documents that need to be managed, the need to reduce costs associated with document management, and the need to improve business processes.
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Market Segments
The document management system market report is bifurcated on the basis of component, deployment mode, end-user, and region. On the basis of component, it is segmented into solutions and services. Based on deployment mode, it is analyzed across on-premises and cloud-based. By end-user, it is categorized into BFSI, government, education, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The document management system market report includes players such as OpenText Corporation, Xerox Corporation, Canon Inc., Ricoh Company Ltd., IBM Corporation, eFileCabinet Inc., SpringCM, Oracle Corporation, Alfresco Software Inc., and Hyland Software Inc.
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